Garuda Posts $809 Thousand Net Profit in 2018

Jakarta: National flag carrier Garuda Indonesia posted a net profit of US$809.85 thousand last year, after suffering a loss of $216.5 million the previous year.
 
According to Garuda Indonesia Finance and Risk Management Director Fuad Rizal, the net profit can be attributed to the efforts of the owners of the parent entity. He was speaking during a public meeting at the Indonesia Stock Exchange (BEI) in Jakarta on Tuesday.
 
Garuda Indonesia's earning per share (EPS) in 2018 was $0.00003, up from minus $0.00837 the previous year.

For all of 2018, the airline company recorded a total operating income of $4.3 million, up 4.88 percent from $4.1 million a year ago.
 
Its total assets rose 16.22 percent to $4.37 billion in 2018, from $3.76 billion in 2017. However, its total debts also increased to $3.46 billion in 2018 from $2.83 billion in 2017.
 
Meanwhile, its equities were recorded at $910 million in 2018, down from $937.47 million in 2017, and its cash value at the end of 2018 fell to $251.18 million from $305.72 million the previous year.
 
Garuda Indonesia recently launched the Jakarta-Nagoya route by using an Airbus A330 aircraft, with a capacity of 36 business-class seats and 186 economy-class seats.
 
Garuda Indoeesia is optimistic that the Jakarta-Nagoya direct flight would help support the acceleration of the business climate and economic potential between the two countries. 
 
According to Garuda Indonesia,  the number of visits by businesspersons and tourists from Japan to Indonesia also continues to show a significant improvement, especially to several major tourist destinations in Indonesia, one of which is Jakarta, as the largest economic center in Indonesia.
 
The Jakarta-Nagoya flight is a manifestation of the company's commitment to supporting government programs, specifically increasing investment in the manufacturing industry as a program to accelerate national economic growth.
 
Nagoya, located in Aichi Prefecture, is known as the fourth-largest city in Japan. Nagoya is one of the busiest industrial and manufacturing cities in Japan, making this city a potential market share for Garuda Indonesia. (Antara)
 
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